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Focused on Yukon
TSX-V : VIT
Delivering Results, Adding Value
vitgoldcorp.com
Corporate Presentation July 2016
TSX-V
: VIT
2
vitgold
corp
.com
Forward-Looking Statements
All statements, other than statements of historical fact, contained in this presentation constitute “forward-looking statements” and are based on the reasonable expectations, estimates and projections as of the date of this presentation. Forward-looking statements include, without limitation, possible events, trends and opportunities and statements with respect to possible events, trends and opportunities, including with respect to, among other things, the growth of the gold market, global market trends, expected industry demands, costs and timing of business acquisitions, capital expenditures, successful development of potential acquisitions, currency fluctuations, government regulation and environmental regulation. The words “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “does not anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved” and similar expressions identify forward-looking statements. Forward looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the company as of the date of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. The estimates and assumptions contained in this presentation, which may prove to be incorrect, include, but are not limited to, the various assumptions of the company set forth herein. Known and unknown factors could cause actual results to differ materially from those
projected in the forward-looking statements. Such factors include, but are not limited to potential conflicts of interest of officers or directors involved in the company’s future business, or conflicts of interests related to approving a potential acquisition transaction; success in obtaining any required additional financing to make an acquisition or develop and acquire business; a limited pool of prospective acquisition targets; potential change in control if the company acquired one or more target businesses for stock; successful performance of any acquired business going forward, fluctuations in the currency markets; changes in national and local government legislation, taxation, controls, regulations and political or economic developments in jurisdictions in which the company does or expects to do business; operating or technical difficulties in connection with the properties of the company; employee relations; risks associated with obtaining any necessary licenses or permits. Many of these uncertainties and contingencies can affect the company’s actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, the company. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. All of the forward- looking statements made in this presentation are qualified by these cautionary statements. These factors are not intended to represent a complete list of the factors that could affect the company. The company disclaims any intention or obligation to
update or revise any forward-looking statements whether as a result of new information, future events or otherwise, or to explain any material difference between subsequent actual events and such forward-looking statements, except to the extent required by applicable law. The forward- looking statements set forth herein are for the purposes of providing potential investors with information concerning the company’s future business plans in order to assist potential investors in determining whether or not to invest in subscription receipts of the company and may not be appropriate for other purposes. The reader is cautioned not to place undue reliance on forward- looking statements.
NATIONAL INSTRUMENT 43-101
A copy of our Technical Report – Feasibility Study Eagle Gold Project, Yukon dated April 5, 2012 prepared by WARDROP a Tetra Tech Company, and updated for taxation on May 29, 2015 prepared by Tetra Tech, can be found on Sedar.com and our website at www.vitgoldcorp.com.
QUALIFIED PERSON
The Technical content of this presentation has been reviewed and approved by Paul D. Gray, P. Geo., the Company’s Qualified Person as defined by National Instrument 43-101.
Victoria Gold – Overview
Eagle Gold Project, near Mayo, Yukon • Conventional open‐pit, heap leach
• Large defined reserve - 2.3mm ounces (91.5 M tonnes @ 0.78 g/t Au)
• Targeting annual production >200,000/ounces per year
• Established infrastructure
• Fully permitted
Strategic Investors • Tom Kaplan’s Electrum Fund and Sun Valley Gold make $24M
equity investment in early 2016
Feasibility Study update in H2 2016 • Olive Zone, higher grade satellite deposit
• Updated gold price, including USD/CAD FX impact and lower fuel cost impacts. Second ROM leach pad
Jurisdiction - Canada • Yukon, safe, pro‐mining jurisdiction
• Strong local relations and established First Nations agreements
Undervalued—poised for valuation re‐rating • Undervalued versus advanced development stage gold peers
• Experience developing & operating in the North
3
EAGLE GOLD PROJECT – PROPOSED SITE LAYOUT
EXISTING SITE INFRASTRUCTURE (CAMP)
VALLEY-FILL HEAP LEACH
Victoria Gold – Capitalization & Major Shareholders
4
Share Price $0.50
Basic Shares O/S (mm) 448
Warrants & Options (mm) 71
Market Cap $224M
Basic Cash (29Feb16 + May and June 2016 financings)
$41 M
Debt $0 M
Enterprise Value $183 M
EV / Reserve (US$/oz) $79
Capitalization
Strong Treasury
& No Debt
Major Shareholders
Analyst Coverage
Shareholder Shares (mm) % of Basic
Sun Valley Gold LLC 79.3 17.9
Electrum Strategic Fund LLC 60.4 13.5
Kinross Gold Corp. 55.9 12.5
Goldman Sachs Group 20.8 4.7
Mackenzie Financial Corp. 4.2 0.9
Precious Capital AG 3.4 0.8
Osisko Gold Royalties 2.3 0.5
Firm Analyst Target Price
Richard Gray $0.55
Don Blyth $0.70
Adam Melnyk $0.65
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Eagle Gold Project
Large reserve in the Yukon • 2.3mm ounce reserve (91.6 m tonnes @ 0.78 g/t)
• Technically simple open pit heap leach operation • Target production rate of 212 koz/yr for first 5 years • 10 year mine life • Average ore stacking rate of 29,500 tpd • Low strip ratio—1.45:1 • Estimated Au recoveries of ~73%
Excellent local infrastructure with existing year‐round road access and 100‐person all‐season camp
Post‐tax NPV5% = C$366mm; IRR = 23.45%(4)
5
Location: Yukon, Canada Ownership: 100% Reserves: 2.3 mm oz Au Operation: Open pit, heap leach Status: Fully permitted
Fully permitted as of Dec. 2015 • Agreement with Local First Nation in‐hand
Initial capex of ~C$400mm
Significant expansion potential: Olive‐Shamrock target just 2.5 km from Eagle
Updated Feasibility Study in H2 2016 led by JDS Energy & Mining
(4) Updated Feasibility economics in Feb. 2016 with US$1,200/oz Au and USD/CAD = 0.75
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Proposed Site Layout
Open Pit
Waste Rock Storage
In Valley Heap Leach Crushers
Truck Shop
Gold Recovery Plant
Camp
100 Day Storage
Explosives Storage
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Excellent Infrastructure
Excellent Infrastructure includes: • Year‐round road access to Eagle: connects to the Silver Trail Highway
• Grid power nearby: new 45 km long power supply line will tap into Yukon hydroelectric grid
• Gravel airstrip: located in Mayo and maintained by Government of Yukon, approx. 85 km by road to Eagle Gold site
• 100‐person all‐season camp: fully operational on site • A further 100-person all-season camp has been
purchased and is ready for transport to site
• Proximity to major commercial hubs: six hours by road to Whitehorse and ~665 km by all-weather highway to Port of Skagway, Alaska
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Exploration Potential
8
Olive-Shamrock Zone
The 2016 Phase 1 definition drilling program was focussed on the Olive-Shamrock satellite deposit
Drill program was expanded to 12,000m and was completed in June 2016
Objectives of the 2016 Phase 1 program are:
• Convert the Olive Zone resource to Indicated and include in upcoming Feasibility Study update
• Inaugural Inferred Resource estimate for Shamrock Zone
• Test the previously untested 300m separation zone between Olive and Shamrock
• 2016 Phase 2 definition drilling program will start in August and will focus on Shamrock
Located 2.5 km from the Eagle gold deposit
Site of several historically exploited high-grade veins
Amenable to heap leaching using the same crush size (P80 6.3 mm) as the Eagle zone
• Test work completed to date suggests recoveries in the range of 60% - 70%
• Highlights from 2016 program include:
o 30 m @ 2.85 g/t Au o 145 m @ 1.16 g/t Au o 27 m @ 2.16 g/t Au
2016 Drill Program
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Feasibility Study Update
9
Inclusion of Olive Zone Resources
Spring 2016 drill program is expected to result in an inaugural 43-101 Technical Report for the Olive Zone Bottle roll and column tests on Olive Zone material recoveries of 61% ad 69% respectively
Additional Heap-Leach Facility
Evaluate addition of a second heap-leach facility to treat ~20 mmt of low-grade (0.4 g/t) run of mine material In existing FS, this material was trucked to the waste dump • Proven method – currently used at Kinross’
Fort Knox Operation
Higher CAD Gold Price, Lower Costs
The current FS for Eagle is based on inputs from Q4 2011; since then, the following has changed:
Eagle Gold Project
April 2016, Victoria Gold announced it had engaged JDS Energy & Mining to update the Feasibility Study for its Eagle Gold Project Objectives of the Feasibility Study update include: • Incorporate higher CAD gold price and lower
equipment & fuel costs • Addition of second low-grade heap-leach facility • Include higher-grade resources from Olive zone.
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Victoria Gold Corp. Project Team Officers and Directors
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JOHN MCCONNELL, PRESIDENT & CEO, DIRECTOR • 35 years in mining industry; operations, permitting,
engineering, project mgt & mining company executive • Nanisivik, Strathcona, Breakwater, De Beers, Western
Keltic
MARTY RENDALL, CFO • 20 years in mining; base metals, diamonds, gold;
exploration, projects, operations • Breakwater, De Beers
MARK AYRANTO, EXECUTIVE VICE PRESIDENT • 17 years mining, operations, development, permitting • StrataGold, Chair of Yukon Mineral Advisory Board to
the Minister of Energy, Mines & Resources
LEENDERT KROL, DIRECTOR
• 40 years in the mining industry; exploration, investor relations, mining company executive, corporate director
• De Beers, Anglo, Anaconda, Newmont, Stratagold, Brazauro, Romarco
MICHAEL MCINNIS, DIRECTOR
• 35 years in the mining industry; exploration, mining company executive, corporate director
• Gateway, Riverstone
HEATHER WHITE, DIRECTOR
• 20 years in the mining industry; senior operating & executive roles.
• Vale Canada, Voisey’s Bay, Inco, NovaGold
T. SEAN HARVEY, NON-EXECUTIVE CHAIRMAN
• 25 years experience; investment banking, mining company executive, corporate director
• BMO, Deutsche Bank, TVX, Perseus, Moto Gold, Andina
PATRICK DOWNEY, DIRECTOR
• 25 years in the international resource industry; senior engineering & operating roles.
• Elgin, Aura, Viceroy, Trillion, Oliver, Rescan, Claude, Dalradian, Orezone
CHRISTOPHER HILL, DIRECTOR
• 18 years in the mining industry; construction and infrastructure development, mining company executive
• Bank of Nova Scotia, Lac Minerals, Barrick, Kinross, Aecon
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“Is Grade King?” – Smart Investors Will Delve Deeper
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Head Grade (g/t)
Recovered Gold/ Material Moved (g/t)
Kaminak (Coffee Gold)
Marlin Gold La Trinidad
New Gold (Rainy River)
Argonaut (Magino)
Victoria (Eagle Gold)
Lydian (Amulsar)
Kirkland (Hasbrouck)
Golden Queen (Soledad Mt)
Silver Standard (Marigold)
Kinross (Ft. Knox)
New Castle Gold (Castle Mtn)
Waterton (Mt. Hamilton)
Kaminak (Coffee Gold)
Marlin Gold La Trinidad
New Gold (Rainy River)
Argonaut (Magino)
Victoria (Eagle Gold)
Lydian (Amulsar)
West Kirkland Mining
(Hasbrouck)
Golden Queen (Soledad Mt)
Silver Standard (Marigold)
Kinross (Ft. Knox)
New Castle Gold (Castle Mtn)
Waterton (Mt. Hamilton)
1.4
1.2
1.0
0.8
0.6
0.4
0.2
0.25
0.05
0.20
0.15
0.10
1.6
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Ideal Conditions for Canadian Gold Miners
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Victoria Gold – Leverage to Rising Gold Price
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Orezone Midas Sabina Victoria TMAC Premier(1) Kaminak Atlantic Dalradian Roxgold Red Eagle
Midas Sabina Victoria Kaminak Dalradian TMAC Orezone Premier (2) Roxgold Atantic Red Eagle
4.5 4.2
3.0
1.2
5.7 5.5 5.3
4.9
1.0 0.7
0.5
162 160
135 113
337 198
192 183
100 87
50
Source: National Bank Financial, Analyst Research and corporate disclosure (1) Premier includes Resources for Trans-Canada (50%), Cove (100%) and South Arturo (40%) (2) Reflects Premier’s 50% share of 226 koz/yr production expected from Trans Canada Project
6.0
5.0
4.0
3.0
2.0
1.0
0.0
350
50
200
150
100
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Why Invest in Victoria?
Upcoming catalysts to sustain positive momentum & drive share price re‐rating • Eagle Gold Project Feasibility Study update expected H2 2016 • 12,000 m drill program at the Olive-Shamrock Zone complete, assays still being received
Large contained gold reserve offers leverage to rising gold price • Large defined reserve - 2.3mm ounces (91.5 M tonnes @ 0.78 g/t Au)
• Substantial exploration upside
• Over 200,000 oz/yr contemplated annual production
Fully permitted project • Eagle Water Use Licence received Dec. 2015—project is shovel ready
Yukon is a safe, stable, pro‐mining jurisdiction • Constructive existing relationships with local communities, Government of Yukon & First Nations agreements complete • Excellent existing infrastructure—power, roads, water
Investment‐friendly capital structure • C$41 mm cash (Cash at Feb.29, 2016 plus recently announced $24 mm & 2.85 mm
financings), no debt, no stream, 1% NSR royalty to Franco‐Nevada
Management team • Experience developing and operating mines in the North
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For more information, please contact:
JOHN MCCONNELL, PRESIDENT & CEO
604-696-6605 [email protected]
vitgoldcorp.com
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LENORA HOBBIS EXECUTIVE AFFAIRS MANAGER
604-696-6610 [email protected]
Appendix July 2016
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June 29, 2016
June 28, 2016
June 28, 2016
June 17, 2016
June 16, 2016
June 15, 2016
June 5, 2016
June 3, 2016
June 1, 2016
May 25, 2016
May 24, 2016:
May 17, 2016:
May 16, 2016:
May 13, 2016
May 12, 2016:
May 11, 2016:
May 6, 2016:
May 5, 2016:
Apr. 27, 2016:
Apr. 22, 2016:
Apr. 11, 2016:
Apr. 8, 2016:
Mar. 8, 2016:
Feb.24, 2016:
Feb.25 2016:
Feb.1, 2016:
Jan.25, 2016:
Dec.17, 2015:
Dec.14, 2015:
Dec.7, 2015:
VIT Press Release – Nominates Patrick Downey for Election as a Director
VIT Press Release – VIT Receives Olive Results including 168m at 0.92 f/t including 30m at 2.85 g/t gold, Shamrock Results Next Up
Red Cloud Klondike Strike – VIT Valuation not reflective of Olive’s Potential
VIT Press Release – VIT Closes $2.85 M Flow-Through Financing @ $0.65/share
VIT Press Release – VIT Strengthens its Technical Team with the Appointment of Heather White to the Board
VIT Press Release – VIT Receives Olive Results including 35m @ 1.8 g/t and 106m at 0.9 g/t Gold
Hard Rock Analyst – Eric Coffin High Grade
VIT Press Release - VIT Confirms high Grade Results at Olive including 35m at 2.5 f/t and 47m at 1.5 g/t Gold and Expanded Drill Campaign
Cdn Business Journal – Eagle Gold Project Ready to Soar in Yukon
Marquest – VIT – Tech Update – Breakaway Gap
VIT Press Release – VIT Confirms High Grade Mineralization between the Olive & Shamrock Zones including 26.5m at 2.1 g/t Gold
Hard Rock Analyst – High Grade – VIT at Metals Investors Forum
National Bank Financial – Preliminary Met Work at Shamrock Yields 88% Recovery
VIT Press Release – VIT Receives Additional Olive-Shamrock Zone Results
Secutor Capital Management Corp. – Positive Exploration at Olive Points to Improved Feasibility Study in Q4 2016
Stockwatch – VIT Closes $24 Million Private Placement
Cormark – Olive Could Make Eagle Fly Higher
National Bank Financial – Drilling at Olive-Shamrock Satellite Target Yields Ore Grade Intercepts
Paradigm – VIT Target Price $0.70
Thomas Kaplan – Invests $24M in Victoria Gold
Paradigm – Making a Good Thing Better
CEO.ca – How VIT Plans to Sharpen Eagle
Financial Post – VIT Awards Drilling Contract for the 2016 Olive-Shamrock Exploration Program
Edison – Defining Shamrock and Olive to enhance Eagle
Cormark – Eagle Flying Back Onto the Radar
National Bank Financial – Eagle Ready to Soar
Northern Miner – Victoria’s Eagle truly ‘shovel ready’
Edison – Eagle Receives Major Permit
Paradigm Capital – Final Permit: All Wrapped Up, with a Bow on Top
VIT Press Release – Victoria Gold Receives Final Major Permit for Eagle Gold Project
Recent Coverage & Press
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BNN
Commodity TV
CEO Clips
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Eagle Gold Project – Geology
Mineralization - Free Gold on Fractures
Quartz Veining & Alteration
• Quartz-sulfide veining • K-Feldspar alteration • Sericite-carbonate-chlorite
• Intrusion of Dublin Gulch Granodiorite Pluton • Cretaceous age (94 Ma) – similar to Vogt Pluton
at Fort Knox • Outer carapace cools and fractures • Quartz veins and sulfides emplaced • Late stage cooling with hairline fractures – gold event
• Hairline fractures with oxidized sulfides and gold
Intrusion and Hornfelsing (baking) of surrounding metasediments
Eagle is Located within the Tintina Mineral Belt:
• North of the Tintina Fault within the mineral-rich Selwyn Basin;
• Tectonically thickened package due to NNE compression;
• Area underlain by Late Proterozoic-Early Cambrian Hyland Group metasedimentary rocks;
• Hyland Group intruded by Cretaceous age rocks of the Tombstone Suite.
18
Eagle Pit Overlain on Olive-Shamrock Zone
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Metallurgical Test Work
36 column leach tests - 20 tonnes of sample material
17 of the 36 tests on conventional crush sizes ranging from 5mm to 50mm
Kappes Cassiday evaluated all testing data and estimated gold recoveries of 73% with ore crushed conventionally to 6.3 mm
150 day leach time
20
Ore Type Geological Description Recoveries (6.3mm)
Type A Weathered Granodiorite 79%
Type B Unaltered Granodiorite 68%
Type C Sericite Altered Granodiorite 73%
Weighted Avg. Recovery 73%
“There has been a substantial amount of testing conducted on the Eagle Gold Heap Leach Project. It is KCA’s opinion that there are sufficient metallurgical testing data”.
Kappes Cassiday Memo, June 30, 2011
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Production Summary (2012 Feasibility Study)
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Eagle Operating Costs
$CND/ tonne processed
Mining $ 4.66
Processing $ 6.28
G&A $ 1.27
Total $ 12.21
Year Tonnes Leached (000’s)
Average Grade (g/t Au)
Gold Produced (oz)
Cost ($CAD per
tonne leached)
Operating Cost ($USD per oz)
Year -1 1,284 0.89 23,719 $ 12.64 $ 629
Year 1 9,720 0.93 207,132 $ 12.84 $ 554 Year 2 10,607 0.96 233,119 $ 11.28 $ 472 Year 3 10,544 0.89 215,040 $ 11.63 $ 525 Year 4 10,589 0.80 201,180 $ 11.92 $ 577 Year 5 10,634 0.78 202,216 $ 12.08 $ 584 Year 6 10,647 0.78 190,141 $ 11.34 $ 584 Year 7 10,654 0.63 153,346 $ 11.47 $ 733 Year 8 10,302 0.59 136,377 $ 11.71 $ 814 Year 9 6,613 0.58 88,558 $ 11.41 $ 784
Year 10 17,924 Year 11 3,745 Total or Average
91,594 0.78 1,672,496 $ 12.21 $ 615
Feasibility Study April 2012
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Eagle Initial Capital Costs
Initial Capital Cost Estimate (all amounts in Canadian dollars unless otherwise stated)
Mining $ 36,266,000
Site General $ 33,522,000
Process $ 96,399,000
Ancillaries $ 21,153,000
Power Supply & Distribution $ 11,113,000
Water Management $ 5,085,000
Heap Leach Pad $ 63,833,000
Owner’s Costs $ 8,913,000
Indirect Costs $ 68,277,000
Contingency $ 38,238,000
Total Directs, Indirects, Owner’s Cost, including Contingency $ 382,799,000
*exclusive of $16.9 million pre-stripping for mining operations
Feasibility Study April 2012
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Project Victoria Gold Eagle Project FS
Kinross Gold Fort Knox Mine(1)
Kinross Gold Maricunga Mine(2)
Location Yukon, Canada Alaska, USA Atacama Desert, High Andes, Chile
Conditions
• “Continental” type climate • Average annual temperature of -3°C • Average winter low temperature
ranges from -18°C to -30.9°C (3)
• Sub-Arctic climate • Average annual temperature of -2.9°C • Average winter low temperatures
range from −26 °C to −32°C (3)
• Desert Environment at high altitude (i.e. approximately 4500m).
• Temperatures can drop to -29°C (3)
Start-Up Year 2018 1996 2005
Reserves 2.3M oz @ 0.78 g/t (FS) 2.9M oz @ 0.49 g/t (Dec 2013) 2.2 M oz @ 0.75 g/t (Dec 2013)
Resource 6.3 M oz @ 0.65 g/t 1.1M oz @ 0.46 g/t (Dec 2013) 2.7M oz @ 0.66 g/t (Dec 2013)
Throughput 10.3 M t/yr Leach 29.8 M t/yr Leach in 2013 15.1 M t/yr Leach in 2013
Crush Size 6.3 mm ROM 10.5 mm
LOM Strip Ratio (W:O)
1.45 : 1 1.60 : 1 0.8 : 1
LOM Recovery 73% Leach 65% Leach 68% Leach
Annual Production 192,000 oz Au Leach 154,000 oz Au Leach (2014 Guidance) 212,000 oz Au Leach (2014 Guidance)
Cash Costs US$614/oz US$645/oz (2014 Guidance) US$991 (2014 Guidance)
Comment
• Geology similar to Fort Knox • Grades higher than Forth Knox and
Maricunga • Recovery higher than Fort Knox and
Maricunga given head grade and crush size
• Recoveries have been higher than initially estimated.
• In 2014 plan to initiate “Stage 5” of the Walter Creek Heap Leach facility
• ROM to pads Still profitable despite low grades (0.3 g/t in 2013)
• Heap Leach which produced more than 920,000 ounces of gold from 1996 to 2001
• Re-commissioned the mine in 2005
Cold Weather Heap Leach
Notes: (1) Company filings and reports. LOM includes processing by mill until 2017, followed by processing stockpiles on the heap leach pad until 2020, (2) Kinross 2013 Annual Report and Technical Report for the Maricunga Gold Mine, Kinross , Dec 31, 2007, (3) Source Wikipedia
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Oxide Heap Leach Projects Currently in Production
Source: Company Filings and Select Street Research Notes: (1) 2014 data is based from company guidance
Project Victoria Gold Eagle Project FS
Average Kinross
Fort Knox Kinross
Maricunga Argonaut Gold
El Castillo Timmins Gold San Francisco
Rio Alto La Arena
Eldorado Gold Kisladag
Location Yukon, Canada Alaska, USA Chile Mexico Mexico Peru Turkey
Start-Up Year
2018 2004 1996 2005 2007 2010 2011 2006
Reserves (P&P)
May 2014 Dec 2013 Dec 2013 May 2014 June 2014 Dec 2013 Dec 2013
92Mt 167Mt 183Mt 91Mt 106Mt 91 Mt 347Mt 432Mt
2.3mm oz 3.3mm oz 2.9mm oz 2.2mm oz 1.2mm oz 1.6mm oz 3.2mm oz 9.5 mm oz
Grade 0.78 g/t 0.75g/t 0.49 g/t 0.75 g/t 0.36 g/t 0.54 g/t 0.28 g/t 0.69 g/t 1.1 g/t (2013)
Throughput
29,500 tpd
32,649tpd
33,000 – 45,000tpd
40,000 tpd
30,000 tpd
24,000 tpd
36,000 tpd
33,000 tpd 36,000 tpd
(2013)
Crush Size 6.3 mm n/a ROM 10.5mm ROM and Crush 13mm ROM Oxide 6.3mm
LOM Strip Ratio (W:O)
1.45 : 1 1.76:1 1.60 : 1 0.78 : 1 0.88 : 1 1.70 : 1 1.37 : 1 1.63 : 1
LOM Recovery
73% Leach 67% 65% Leach 68% 60% 70% 80% 65%
2013 Production
192,000 oz Leach (oz/yr)
198,251 oz 421,641 oz 187,815 oz 94,804 oz 120,900 oz 214,742 oz 306,182 oz
2013 Cash Costs
US$615/oz (LOM)
US$675/oz US$569/oz US$1,170/oz US$699/oz US$717/oz $603/oz US$338/oz
2014E(1)
Production 181,884 oz 396,500 oz 212,000 oz 90,000-
100,000 oz 115,000-
125,000 oz 200,000-
220,000 oz 330,000-
335,000 oz
2014E(1)
Cash Cost US$747/oz US$645/oz US$991/oz US$775-800/oz US$800/oz US$629-695/oz US$470-485/oz
Comments
29.8 Mt placed on heap in 2013, at 0.29 g/t Au
Desert Environment at high altitude
Expanding throughput to 30,000 tpd
Proposed expansion deferred
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Project Victoria Gold Eagle Project FS
Average Alamos Mulatos Mine
Alacer Çöpler (2)
AuRico El Chanate
New Gold Mesquite
Anglo Gold Cripple Creek
Silver Standard Marigold
Location Yukon, Canada Mexico Turkey Mexico California, USA Colorado, USA Nevada, USA
Start-Up Year
2018 2004 2006 2011 2009 2008 1995 1988
Reserves (P&P)
May 2014 Dec 2013 Dec 2013 Dec 2013 Dec 2013 Dec 2013 Dec 2012
92Mt 167Mt 55Mt 58Mt 45Mt 116Mt 183Mt 295Mt
2.3mm oz 3.3mm oz 2.0mm oz 3.8mm oz 1.0 mm oz 2.2mm oz 4.71mm oz 4.92mm oz
Grade 0.78 g/t 0.75g/t 1.15 g/t 2.06 g/t 0.70 g/t 0.60 g/t 0.80 g/t 0.59g/t
Throughput 29,500 tpd 32,649tpd 17,500 tpd 17,000 tpd 14,000 tpd 40,000 tpd 68,000 tpd 33,290 tpd
Crush Size 6.3 mm 9mm ROM and Crush to 10mm
6mm ROM 19mm ROM
LOM Strip Ratio(W:O)
1.45 : 1 1.76:1 1.04 : 1 2.96 : 1 2.88 : 1 2.80 : 1 2.02 : 1 2.45 : 1
LOM Recovery
73% Leach 67% 73% 60% Leach 59% 67% (2013) n.a. 73%
2013 Production
192,000 oz Leach (oz/yr)
198,251 oz 190,000 oz 271,063 oz Leach
71,864 oz 107,000 oz 231,000 oz 162,000 oz
2013 Cash Costs
US$615/oz (LOM)
US$675/oz US$426/oz US$430/oz US$592/oz US$907/oz US$732/oz US$914/oz
2014E Production(1)
181,884 oz 150,000-170,000 oz 220,000-225,000 oz
70,000-80,000 oz 113,000-123,000 oz
199,000 oz 140,000- 153,000 oz
2014 Cash Cost (1)
US$747/oz US$630-670/oz US$501/oz US$625-725/oz US$915/oz US$799/oz US$1,000- 1,100/oz
Comments
In 2012 added a 500tpd Gravity Mill for high grade
Figures reflect 100% (Alacer owns 80% of Çöpler)
2013 costs elevated; mining lower grade
Oxide Heap Leach Projects Currently in Production
Source: Company Filings and Select Street Research Notes: (1) 2014 data is based from company guidance, Alacer and New Gold are based from street consensus research. Strip Ratio and Recoveries for Marigold are average for 2011, 2012 and 2013; (2) P&P Reserve excludes sulphides which are not being mined at this stage. “Throughput” figure for Çöpler excludes ROM ore placed on pad.
26
APPENDIX
27
TSX-V
: VIT
vitgold
corp
.com
Dublin (Eagle)– Claims good until 2021 based on 2012 assessment filings
$35,000 Annual Advanced Royalty payment
VBW
Aurex
Clear Creek
CanAlask
Donjek
Santa Fe
– Claims good until 2018 based on 2013 assessment filings
– All Claims in good standing until 2017 with a Cash in Lieu payment in 2016
– Claims good through 2020 based on VIT’s 2015 work program filings
$57,000 Annual Advanced Royalty payment
– Bulk of Claims good until 2017 with a Cash in Lieu payment in 2016
– All Claim good until 2017 with a Cash in Lieu payment in 2016
– Annual BLM/County Payments + related Property Taxes – $45,000
2016 Annual holding cost: ~$160,000
Claims Summary
28
APPENDIX TSX
-V: V
IT vitgold
corp
.com
TSX
-V: V
IT vitgo
ldco
rp.co
m
Infrastructure
Whitehorse
Klondike Highway
Mayo
Road to Dublin Gulch
Power at Mayo B